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Outlook for Open Source in FinTech 2018

We kicked off the new year with our first monthly Open Source and FinTech Meetup at Rise New York last Monday for an evening of networking, drinks, and an interactive panel discussion. The meetup was co-hosted by the Symphony Software Foundation and TTM Advisors and welcomed over 50 New Yorkers interested in the intersection of open source and FinTech.

Gregg Schoenberg, Co-founder of The Financial Revolutionist, Wescott Capital (@GSchoenberg) moderated a panel discussion about the outlook for open source in FinTech in 2018. The panelists were Mazy Dar, CEO, OpenFin (@mazydar), John Stecher, Managing Director and Group Head of Open Innovation, Barclays (@JohnStecher), and Aaron Williamson, General Counsel & Director of Governance, Symphony Software Foundation (@copiesofcopies).

As FinTech startups begin to embrace open source, we are seeing more and more banks showing interest. During the session, panelists shared their involvement with open source, the benefits of including open source in your core strategy, and the challenges they’ve faced getting others on board, including legal and compliance departments. We predict that open source in financial services will continue to pick up the pace in 2018 and the Foundation’s goal is to make it easy for banks to open source and help them see the way forward through this year and beyond.

Missed it? We will be hosting a meetup each month so be sure to check out our meetup page and follow @OSStrategy for the latest events.

TTM Advisors is a strategy and technology advisory firm based in Brooklyn, New York that serves leading organizations, both young and established, with a focus on the FinTech, EdTech, and Enterprise Technology sectors. TTM works with for profit companies to attract capital, acquire customers, build routes-to-market, and create products that grow profitable revenue streams to both reinvest in the core business and reward investors. With nonprofit organizations, TTM works to build sustainable financial support and create the systems and structures to maximize the impact of philanthropy and earned revenue to core mission fulfillment.